Several STS operations have occurred this week. Here are a few highlights:

  • IOC’s Commodore transferred a partial Ras Laffan-sourced cargo to new build Silvio on 25-Mar in the Maldives. Commodore then partially discharged at Visakhapatnam, and is on her way to Haldia ETA 1-Apr, where Silvio is also waiting to discharge.
  • Petredec’s Gas Summit transferred her Enterprise-sourced C3 cargo to Petredec’s Pampero on 30-Mar. in the Singapore Strait.

There has been a monthly increase in the number of VLGC loadings in Norway this year- 1 in January, 2 in February, and 4 in March. The 4 vessels for the current month have all loaded in Kaarstoe:

  • Statoil has fixed British Courage, who finished loading on 2-Mar, and is now on her way Far East;
  • Statoil has also fixed Al Wukir, who finished loading on 3-Mar and discharged in Dortyol on 25-Mar;
  • BW Cedar, who also finished loading on 21-Mar for Statoil, is on her way Far East. Her ETA for Port Said is 1-Apr.
  • Gunvor’s Venus Glory also finished loading 20-Mar and is expected by the port of Flushing on 1-Apr.

VLGC new build, Sumire Gas has left the shipyard in Japan and is on her way to SGP Area ETA Apr. 6. She is time chartered under Astomos.

S. Korea has historically imported the majority of their LPG from the Persian Gulf. Throughout the current year, S. Korea has increased imports from the U.S, while they have decreased Persian Gulf imports from Jan.-Feb. (Feb-Mar have remained relatively the same). Here is a look at LPG tonnage that has landed in S. Korea from the U.S. and the Persian Gulf over the last 6 months.

While S. Korean imports from the U.S. have increased over the current year, overall, the U.S. has experienced a month-by-month decrease in exports- March exports have dropped by approx. 15% over the previous month. However, exports for this month are approx. 9% higher than they were last year.

  • The following is data from our Excel API showing U.S. exports by destination over the last 3 months

As seen above, the Far East is the biggest receiver of U.S. LPG. Here is a further breakdown of U.S. cargoes that have loaded this year, and have ended up Far East